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Kalgoorlie Joins the Bust.; Down almost 10% for the quarter.
Topic Started: 7 Dec 2013, 02:59 PM (2,249 Views)
Perthite
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Perhaps read the whole thread first.
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Pig Iron
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Bogan scum

Perthite
7 Dec 2013, 04:34 PM
What about ore?

When I pointed out Port Hedland you just tried to explain it away.

I can provide links to that.
everyone has very been very patient explaining to you that regional centers aren't going to impact perth.
I am the love child of Tony Abbott and Pauline Hanson
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Perthite
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Pig Iron
7 Dec 2013, 06:21 PM
everyone has very been very patient explaining to you that regional centers aren't going to impact perth.
I will still be the one taking a discount. Perth is servicing all these centers.
Yet employment growth has dropped from 50-60 k to 0 a year.

A point I patiently explained.
Edited by Perthite, 7 Dec 2013, 06:41 PM.
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Foxy
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Zero is coming...

Perthite
7 Dec 2013, 03:20 PM
Well this has just started to play out.

I know a number of small to medium sized businesses in Perth that are just holding on. If activity does no pick up eventually they will fold.
Perthite,
I think you have a point.
If there is a reduction in income in or at the periphery it is only a mater of time till the centre feels the reduction of cash/demand.
Peter
:pop:
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Foxy
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Zero is coming...

ok guy's,
When i was 15 i went to Marble Bar, mom and dad had bought the Old Ironclad Hotel,
we went on to buy 6 hotels in the state of Western Australia.
Sold most of them.
Spent 30 years travelling to the towns in the north and goldfields.
Mining is a cyclical business.
When the ore or gold or tin or tantalum or what ever commodity is needed you will see huge price moves in the towns that have that commodity.
Seen many boom's and many busts.
Does anyone think it will not happen again???
If you turn on a light in a room don't be amazed that you can see things.
When you turn the light off please don't be amazed you can not see things.
Money is turned on and turned off.
Those towns like Hedland and Karratha have had huge supply of money increases.
Now the mining companies that poured that money into the local economies have mostly achieved their goals.
Now they have to produce those tons at the lowest cost humanly possible.
In an ideal world they want to run no loss systems.
For ever increasing productivity and reducing costs, it never ends.
So:
1) The flush of cash going to Bob the builder and Sam his mate the investor will reduce. Port Hedland is now listed as a low interest market (wow who would have imagined?), remember there is no such thing as a total market, it is made up of in infinite number of variables. (maybe that makes the market??) I would be very nervous if i had bought a house in Port Hedland at the top of this cycle. VERY
on realestate.com.au.
http://www.realestate.com.au/neighbourhoods/port%20hedland-6721-wa
2) The Perth market is not insulated from the realities of this. In my opinion and my opinion only we may start to see parts of the Perth market soften due to the reduction in mining money hitting the state. Repeat PARTS.
3) Businesses reliant directly on the large mining companies throwing cash at the build capacity side of the equation will see less cash in the till. (I will be interested to see if some shut or lay off people 3 months into next year)
4) State coffers will continue to see the benefits of royalties.
5) The state adjusts to a production faze of the mining industry.
6) Still a very rich state just the froth coming of the top of the pint.
Good luck for 2014.
May your houses turn into hotels and your hotels turn into palaces.
Your 100's into millions and our wives get younger:)
and the efforts of your loins bear children for the empire.
Good luck.
Peter from Mount Lawley
:tu:
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newjez
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Thanks Peter, that was a good post.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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Pig Iron
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Bogan scum

the reality is china is far from done in it's urbanization program, and when that stage is over if they are successful you will have a new chinese middle class consumer numbering in the 100's of millions.

they will drive demand for resources into the foreseeable future.
I am the love child of Tony Abbott and Pauline Hanson
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Foxy
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Zero is coming...

Pig Iron
8 Dec 2013, 05:14 PM
the reality is china is far from done in it's urbanization program, and when that stage is over if they are successful you will have a new chinese middle class consumer numbering in the 100's of millions.

they will drive demand for resources into the foreseeable future.
yes but not at an ever increasing rate, no exponential growth rate can be for ever, unless it is numbers.
Australia is in the box seat to supply to the bulk of the worlds population.
If you can remain a value adder in that process you have a bright future.
Just do not stand in the way of efficiency gains and automation.

Good luck and all the very best for 2014.

Peter
:pop:
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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